Log in

Should We Deny a 401(k) Loan Based on an Expectation of an Employee’s Termination?

DWC 09/12/17
401k_Loan_Rules.png
Facts One of the participants in our 401(k) plan just applied for a loan for $25,000. He has enough in his account to support the loan, but there is a bit of a wrinkle. We are planning to reorganize the department he works in, and his position is scheduled to be eliminated in about a month.
Read More

Can a Company Owner Withdraw More than the Required Minimum Distribution After Age 70 1/2?

DWC 09/5/17
Minimum_Distribution_Rules.png
This QOTW has been updated to reflect changes made by the SECURE Act, which was signed into law on December 20, 2019. Participants who were born on or before July 1, 1949, are required to start taking their RMDs in the year they turn 70 ½. Those born after that date are subject to RMDs on reaching age 72. Facts One of the owners of our company is ...
Read More

Do We Need an IRS Favorable Determination Letter for Former Employees to Roll Over Their Balances?

DWC 08/15/17
Facts We recently processed a rollover from our 401(k) plan for a former employee who wants to roll her balance into her new employer’s plan. Shortly after the payment was processed, the former employee emailed us requesting either a copy of our plan’s IRS favorable determination letter or a signed acknowledgment that we have such a letter.
Read More

Can We Split QDRO Fees Between Participant and Ex-Spouse?

DWC 08/8/17
dwc-blog-QOTW-Aug8-800x350.png
Facts We have a participant who is going through a divorce and told us that he will be submitting a Qualified Domestic Relations Order to assign a portion of his 401(k) account to his ex-spouse. It is our normal practice (which has been communicated to our participants) to charge the participant’s account for the fees associated with reviewing and ...
Read More

Categories

See all

The views expressed in this blog are those of the authors and do not necessarily represent the views of any other person or organization. All content is provided for informational purposes only and is not intended to be tax or legal advice.

Certificate of Fiduciary Excellence

As Featured In

fl-wall-street-journal
fl-the-hill
fl-bloomberg-BNA
fl-US-News
fl-yahoo-news
fl-plan-sponsor
©   DWC - The 401(k) Experts | P.O. Box 241267, St. Paul, MN 55124

Sign up to receive insights from DWC